Bitcoin Price Forecast by Goldman Sachs

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Quote from: YinShuiSiYuan on January 17, 2022, 03:22:27 PM

When it comes to predictions about cryptocurrencies from JPMorgan, Goldman Sachs or any other bank, I don't believe a word of them. For a very simple reason, because cryptocurrencies are their enemy.
However, in the case of Bitcoin reaching the price of $100k or much higher in 2022, I fully agree. It seems to me that someone from Goldman made a mistake and told the truth for the first time.

I agree with you, from the beginning they can't be trusted, imagine the extent to which they can influence crypto in general, then why are we busy thinking about the speculations or predictions they make, let alone bitcoin sentiment in particular with the institutions they manage, this is the influence that makes us not trust them in its entirety, even though we know that bitcoin in the long term is very likely to reach a price of $100K, because bitcoin is actually the safest cryoto to date.

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Quote from: Dave1 on January 17, 2022, 09:44:16 PM

Quote from: Kasabus on January 17, 2022, 03:55:41 PM

Quote from: YinShuiSiYuan on January 17, 2022, 03:22:27 PM

When it comes to predictions about cryptocurrencies from JPMorgan, Goldman Sachs or any other bank, I don't believe a word of them. For a very simple reason, because cryptocurrencies are their enemy.
However, in the case of Bitcoin reaching the price of $100k or much higher in 2022, I fully agree. It seems to me that someone from Goldman made a mistake and told the truth for the first time.

Well, when it comes to bitcoin's higher value predictions, that will be most likely to be possible since bitcoin is always bound to reach new heights. And Goldman's prediction for $100k will always be possible for this year as long as this bear market won't certainly lasts for long. But i have my high hopes that maybe by the last quarter of this year, the market will eventually recover as most of the time bullish season will appear at the last quarter until the year end.

Ye, but if you look at bitcoin's historical price, after reaching a new all time high, most likely we will have to wait for years, as the bear market will enter the picture for now. So definitely $100k can be reach, but it will not be in the bear market obviously. It will happen after several years as bitcoin works on a cycle. So 2021 is a bull cycle, so this 2022 and the coming years might be a bear market. So no possibility to hit 6 digits till the next bull cycle in my opinion.

We already saw with the previous history that happened to bitcoin.
After reaching the highest price, the price went down deeper and stayed at that range for some time and it needed years to start another rally.
But with the popularity of bitcoin now, hopefully, that can change the situations of bitcoin and that can change how bitcoin moves this year and will attract the other highest price to come again.
So no matter what will happen this year, we must be ready with anything so we do not get the impact instead can using the moment for our benefit.

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Quote from: Kasabus on January 17, 2022, 03:55:41 PM

Quote from: YinShuiSiYuan on January 17, 2022, 03:22:27 PM

When it comes to predictions about cryptocurrencies from JPMorgan, Goldman Sachs or any other bank, I don't believe a word of them. For a very simple reason, because cryptocurrencies are their enemy.
However, in the case of Bitcoin reaching the price of $100k or much higher in 2022, I fully agree. It seems to me that someone from Goldman made a mistake and told the truth for the first time.

Well, when it comes to bitcoin's higher value predictions, that will be most likely to be possible since bitcoin is always bound to reach new heights. And Goldman's prediction for $100k will always be possible for this year as long as this bear market won't certainly lasts for long. But i have my high hopes that maybe by the last quarter of this year, the market will eventually recover as most of the time bullish season will appear at the last quarter until the year end.

Ye, but if you look at bitcoin's historical price, after reaching a new all time high, most likely we will have to wait for years, as the bear market will enter the picture for now. So definitely $100k can be reach, but it will not be in the bear market obviously. It will happen after several years as bitcoin works on a cycle. So 2021 is a bull cycle, so this 2022 and the coming years might be a bear market. So no possibility to hit 6 digits till the next bull cycle in my opinion.

YinShuiSiYuan

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Quote from: Kasabus on January 17, 2022, 03:55:41 PM

Quote from: YinShuiSiYuan on January 17, 2022, 03:22:27 PM

When it comes to predictions about cryptocurrencies from JPMorgan, Goldman Sachs or any other bank, I don't believe a word of them. For a very simple reason, because cryptocurrencies are their enemy.
However, in the case of Bitcoin reaching the price of $100k or much higher in 2022, I fully agree. It seems to me that someone from Goldman made a mistake and told the truth for the first time.

Well, when it comes to bitcoin's higher value predictions, that will be most likely to be possible since bitcoin is always bound to reach new heights. And Goldman's prediction for $100k will always be possible for this year as long as this bear market won't certainly lasts for long. But i have my high hopes that maybe by the last quarter of this year, the market will eventually recover as most of the time bullish season will appear at the last quarter until the year end.

I think there are two possible scenarios and in both Goldman Sach prediction that Bitcoin price will reach $100k can be correct.
It is possible, as you have written now, that the bear market will last for several months and at the end of the year, prices will start skyrocketing.
Or what we are seeing now is one of many corrections, and in a week or two we will be back in the uptrend and in the next months we will have new ATHs every now and then.

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Quote from: YinShuiSiYuan on January 17, 2022, 03:22:27 PM

When it comes to predictions about cryptocurrencies from JPMorgan, Goldman Sachs or any other bank, I don't believe a word of them. For a very simple reason, because cryptocurrencies are their enemy.
However, in the case of Bitcoin reaching the price of $100k or much higher in 2022, I fully agree. It seems to me that someone from Goldman made a mistake and told the truth for the first time.

Well, when it comes to bitcoin's higher value predictions, that will be most likely to be possible since bitcoin is always bound to reach new heights. And Goldman's prediction for $100k will always be possible for this year as long as this bear market won't certainly lasts for long. But i have my high hopes that maybe by the last quarter of this year, the market will eventually recover as most of the time bullish season will appear at the last quarter until the year end.

YinShuiSiYuan

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When it comes to predictions about cryptocurrencies from JPMorgan, Goldman Sachs or any other bank, I don't believe a word of them. For a very simple reason, because cryptocurrencies are their enemy.
However, in the case of Bitcoin reaching the price of $100k or much higher in 2022, I fully agree. It seems to me that someone from Goldman made a mistake and told the truth for the first time.

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Quote from: AmoreJaz on January 16, 2022, 06:16:26 PM

Quote from: freedomgo on January 16, 2022, 06:07:55 PM

Quote from: beerlover on January 16, 2022, 04:48:07 PM

Quote from: BitXplosion on January 08, 2022, 11:13:40 AM

Goldman Sachs predicted that Bitcoin could reach $100k in 2022 if it continues to overtake gold’s market share.

Approximately 2 percent of gold’s market cap ($700 billion) is held by the public. Goldman estimates that the public holds about $2.6 trillion in gold as an investment."

I definitely think that Goldman Sachs have been quite bullish on bitcoin for a long time. It is not a new story and they have been promoting it for a long time as well. It is quite obvious that they "want to" see it at 100k and that is why they are making speeches like that. Plus, they probably have some money in bitcoin and considering it is not their money and instead their investors money that means they also have to make public posts like this as well.

So all in all, I am definitely sure that they do believe what they are saying but also even if they didn't then they had to still say these things which makes their own words not credible enough at all.

I think bitcoin being to replace gold in the future is very possible as its now starting to prove to the people that there is more profits in bitcoin than in gold, and that bitcoin holds the highest store of value. When it comes to bitcoin reaching the price of $100k, many have been predicting it already so there is nothing new about it. Besides, it has started already in 2021 but things didn't work out well so maybe this year there will be chances for it to happen. We'll just wait and see.

for most young gen, they may indeed go into btc or crypto rather than gold when it comes to possible investments. but gold is gold and they have other usage outside the investments area. but anyway, when it comes to predictions, we will hear or read again a lot of this as we start another year. it is up to you how you will react on such speculations. at the end of the day, no matter how bullish people are, you are still the one who is responsible with your funds. and you should be smart on handling your funds because they won't care if you lose it or not.

This is not surprising as young generation are more risk takers and love to explore what's new to their eyes. Unlike the old ones, they prefer to stick with gold as its definitely the most old investment that even our own ancestors had been investing it already. But when it comes to profits, it no doubt that bitcoin overcomes gold. However, with bitcoin's predicting to reach $100k, i know it will be achieve once the market becomes stable again. But certainly not this time as the market is still heading into a bearish one.

Slow death

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why the hell whenever they talk about that 100,000$ the price drops a lot? whenever there is an optimistic price forecast, the price drops a lot, I honestly prefer when they make a negative price forecast because the price increases a lot after the forecast

Quote from: AmoreJaz on January 16, 2022, 06:16:26 PM

but gold is gold and they have other usage outside the investments area.

everyone wants to have a gold necklace, watch and bracelet, but gold does not offer the high returns that bitcoin offers, it is also difficult to transport large amounts of gold from one place to another, but it is easy to send large amounts of bitcoin from one place to another . everyone has an advantage and a disadvantage

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Quote from: freedomgo on January 16, 2022, 06:07:55 PM

Quote from: beerlover on January 16, 2022, 04:48:07 PM

Quote from: BitXplosion on January 08, 2022, 11:13:40 AM

Goldman Sachs predicted that Bitcoin could reach $100k in 2022 if it continues to overtake gold’s market share.

Approximately 2 percent of gold’s market cap ($700 billion) is held by the public. Goldman estimates that the public holds about $2.6 trillion in gold as an investment."

I definitely think that Goldman Sachs have been quite bullish on bitcoin for a long time. It is not a new story and they have been promoting it for a long time as well. It is quite obvious that they "want to" see it at 100k and that is why they are making speeches like that. Plus, they probably have some money in bitcoin and considering it is not their money and instead their investors money that means they also have to make public posts like this as well.

So all in all, I am definitely sure that they do believe what they are saying but also even if they didn't then they had to still say these things which makes their own words not credible enough at all.

I think bitcoin being to replace gold in the future is very possible as its now starting to prove to the people that there is more profits in bitcoin than in gold, and that bitcoin holds the highest store of value. When it comes to bitcoin reaching the price of $100k, many have been predicting it already so there is nothing new about it. Besides, it has started already in 2021 but things didn't work out well so maybe this year there will be chances for it to happen. We'll just wait and see.

for most young gen, they may indeed go into btc or crypto rather than gold when it comes to possible investments. but gold is gold and they have other usage outside the investments area. but anyway, when it comes to predictions, we will hear or read again a lot of this as we start another year. it is up to you how you will react on such speculations. at the end of the day, no matter how bullish people are, you are still the one who is responsible with your funds. and you should be smart on handling your funds because they won't care if you lose it or not.

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Quote from: beerlover on January 16, 2022, 04:48:07 PM

Quote from: BitXplosion on January 08, 2022, 11:13:40 AM

Goldman Sachs predicted that Bitcoin could reach $100k in 2022 if it continues to overtake gold’s market share.

Approximately 2 percent of gold’s market cap ($700 billion) is held by the public. Goldman estimates that the public holds about $2.6 trillion in gold as an investment."

I definitely think that Goldman Sachs have been quite bullish on bitcoin for a long time. It is not a new story and they have been promoting it for a long time as well. It is quite obvious that they "want to" see it at 100k and that is why they are making speeches like that. Plus, they probably have some money in bitcoin and considering it is not their money and instead their investors money that means they also have to make public posts like this as well.

So all in all, I am definitely sure that they do believe what they are saying but also even if they didn't then they had to still say these things which makes their own words not credible enough at all.

I think bitcoin being to replace gold in the future is very possible as its now starting to prove to the people that there is more profits in bitcoin than in gold, and that bitcoin holds the highest store of value. When it comes to bitcoin reaching the price of $100k, many have been predicting it already so there is nothing new about it. Besides, it has started already in 2021 but things didn't work out well so maybe this year there will be chances for it to happen. We'll just wait and see.

beerlover

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Quote from: BitXplosion on January 08, 2022, 11:13:40 AM

Goldman Sachs predicted that Bitcoin could reach $100k in 2022 if it continues to overtake gold’s market share.

Approximately 2 percent of gold’s market cap ($700 billion) is held by the public. Goldman estimates that the public holds about $2.6 trillion in gold as an investment."

I definitely think that Goldman Sachs have been quite bullish on bitcoin for a long time. It is not a new story and they have been promoting it for a long time as well. It is quite obvious that they "want to" see it at 100k and that is why they are making speeches like that. Plus, they probably have some money in bitcoin and considering it is not their money and instead their investors money that means they also have to make public posts like this as well.

So all in all, I am definitely sure that they do believe what they are saying but also even if they didn't then they had to still say these things which makes their own words not credible enough at all.

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Quote from: mk4 on January 12, 2022, 06:35:54 AM

If anyone's still listening to "price forecasts" especially with an asset like bitcoin in 2022, then I don't even know what to say; especially "forecasts" from a company like Goldman Sachs lol. If there's something I've learned with bitcoin throughout the years, bitcoin tends to heavily surprise people regardless if it's in the upside or downside.

You can know that forecasts are worthless when you look back and realize that no one ever successfully predicted anything in Bitcoin. No one predicted the first rise to above $60k, no one predicted that it would touch the same ATH again and then correct. All we had last year was the "$100k in December" mantra. It was the same in the last bull cycle - "experts" were saying that Bitcoin has reached the top when it was at just $1,200, then at $3,000 and so on, but when it was hitting above $10,000 in December 2017, everyone got euphoric and though that $100k is imminent.

It's better to just relax, HODL and not worry about today's or this year's price too much.

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Quote from: BitXplosion on January 08, 2022, 11:13:40 AM

Goldman Sachs predicts that Bitcoin could reach $100k in 2022 if it continues to overtake gold’s market share. If you haven't invested in Bitcoin already, it could be the best time to get on board with Goldman Sachs' forecast.

I do not think that money in this world which are intended to take bitcoin to $100k levels are already locked in gold and only with the help of the same funds, we can take bitcoin to $100k levels. I mean even gold's market share will keep growing, I believe bitcoin will hit $100k levels as bitcoin got its own set of investors and traders due to its fundamental potential.

Yeah, no need to bother about where gold is going to head up; only due to pandemic consequences we got lots of hiccups in 2021 but currently the new stain is not seeming like a threat to lives hence governments may not put lockdown restrictions and this way, world may come out of covid situations completely and bitcoin may get back to its usual market scenarios.

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I don't mind much about forecast by Goldman Sachs but because you discussed about forecast, let me share two great analytics

From Bitcoin Dormancy Flow to Bitcoin/ Gold ration, bottom of the correction is here and we will see a good growth of Bitcoin from $40k.

Read that article for more details about Bitcoin Dormancy Flow: https://medium.com/@kenoshaking/bitcoin-average-dormancy-28f88ea4c2ce

Sources:
https://twitter.com/TimmerFidelity/status/1481768037619482624
https://twitter.com/TimmerFidelity/status/1481004896308576259

These analytics support what PlanB said and I am bullish with Bitcoin anytime I check its controlled supply that is enough for me to be bullish.

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If anything I consider this to be bearish and it means that bitcoin won't hit $100K. These Goldman Sach are not your friends. I remember I used to read their analysis back in my old stock days regarding certain stocks and commodities and most of the time their analysis was never correct.

If anything they are correct half the time and the other time they are incorrect. So its pointless reading what ever analysis they point out. If they had some real knowledge that some event will happen and bitcoin will hit $100K, they wouldn't let the public know about it, they would just buy it themselves.

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I liked it better when these big banks were bearish on Bitcoin. Now you know they've switched gears into pump mode because they've already filled their bags and want you to dump your money into their investment funds so they can rake in management fees. The more they pump, the more the management fees on their bags are worth. That scares me because once they've sold all the BTC in their bags to investors and talked the price up as high as they can, they short and crash. You won't want to be around for that... The next leg up might be the one to sell.

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Quote from: BitXplosion on January 08, 2022, 11:13:40 AM

Goldman Sachs predicts that Bitcoin could reach $100k in 2022 if it continues to overtake gold’s market share. If you haven't invested in Bitcoin already, it could be the best time to get on board with Goldman Sachs' forecast.

The only questions everyone will be having is whether we will see the price of BTCitcoin crossing $100k during this rally and that is a million dollar question that no one can predict. Goldman Sachs is predicting that the price could reach those valuation this year, everyone can make that prediction.

Quote from: BitXplosion on January 08, 2022, 11:13:40 AM

"Bitcoin has all the makings of being a disruptive, digital currency that could one day replace gold as the world’s most popular store of value.

BTCitcoin is disruptive digital currency but it will not replace gold as store of value, no one in the right sense will invest in a highly volatile asset and expect that to be a store of value Cheesy

.

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Quote from: Yaunfitda on January 14, 2022, 09:20:06 AM

Nah, this is just another forecast not to be taken seriously, I mean the one making the forecast in one of the biggest bank in the world. So it's difficult to trust them, and we all know that most of the time when we heard about this predictions coming from institutions, it means that the price could go down very hard and there are people that is going to manipulate it for their own benefits, just saying.

Yeah, you should never take any speculation made here seriously; because speculations are not financial advice but just a market overview from individuals to traders to analysts. Hence, not considering them as an exact prediction will help anyone who are frequent to this sub.

Quote from: Poker Player on January 14, 2022, 10:44:23 AM

I think that after last year's result, most of us on the forum are skeptical of the predictions

All the speculations are made here only for the informative purpose; people who treated them seriously might have learned on what they need to do when they come across a speculation by this time Cheesy

.

Lucius

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Quote from: mk4 on January 12, 2022, 06:35:54 AM

If anyone's still listening to "price forecasts" especially with an asset like bitcoin in 2022, then I don't even know what to say; especially "forecasts" from a company like Goldman Sachs lol. If there's something I've learned with bitcoin throughout the years, bitcoin tends to heavily surprise people regardless if it's in the upside or downside.

These bankers are just repeating the same story that JPM repeated like a broken record last year - the price of BTC will reach the price of $100k or so if it manages to become a competitor to gold as if that was the only reason the price would one day reach six-digit numbers. Of course, these investment bankers are only interested in whether they will have Bitcoin reserves instead of gold reserves, and the only positive thing in all this is that they are far behind all those who turned out to be much smarter than them.

While some may like what bankers are saying, remember who it really is and what they are willing to do for profit.

Poker Player

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Well, I'd rather Goldman Sachs say that than say that Bitcoin is a scam, as they used to do, but, anyway, they make the prediction themselves conditional:

Quote from: BitXplosion on January 08, 2022, 11:13:40 AM

Goldman Sachs predicted that Bitcoin could reach $100k in 2022 if it continues to overtake gold’s market share.

I think that after last year's result, most of us on the forum are skeptical of the predictions, and it shows in the responses to these threads.

tygeade

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Quote from: BitXplosion on January 08, 2022, 11:13:40 AM

Goldman estimates that the public holds about $2.6 trillion in gold as an investment."

Bitcoin was trading above $1 trillion marketcap when it was trading above $64k price levels but now bitcoin's marketcap is around 800 billion. I guess Goldman sachs expect public to sell off their gold savings for the reason of investing into bitcoins only then bitcoin's marketcap will beat gold's "public part" marketcap. But, I am seeing only 10% to 20% of such switch over may take place as most people still prefer gold over bitcoin due to lesser volatility.

Another reason for public to continue their gold saving is, they may want to ensure about diversification even they adapt bitcoin in their portfolio.

Quote from: BitXplosion on January 08, 2022, 11:13:40 AM

Goldman Sachs predicts that Bitcoin could reach $100k in 2022 if it continues to overtake gold’s market share.

Regardless of overtaking gold's market share, I believe bitcoin will get into $100k levels this year when more of such institutions will be releasing the positive speculations on bitcoin's future Wink

.

Yaunfitda

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Nah, this is just another forecast not to be taken seriously, I mean the one making the forecast in one of the biggest bank in the world. So it's difficult to trust them, and we all know that most of the time when we heard about this predictions coming from institutions, it means that the price could go down very hard and there are people that is going to manipulate it for their own benefits, just saying.

tbct_mt2

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Forecast is forecast and it has lot of assumptions which never be true. I only see growth for Bitcoin with support from bigger adoption, from Lindy effect.

Willy Woo mentioned about Lindy effect in his tweet: https://twitter.com/woonomic/status/1480778557001711618
Vijay wrote an article in which he mentioned about Lindy effects, years ago. The Bullish case for Bitcoin

Lindy effect is proven so Bitcoin will follow it and I consider 13 years are long enough to begin on track with Lindy effect.

Jating

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And we have to understand where there prediction is coming from, perhaps they have a huge clientele of bitcoin investors so it make sense for them to make a sales pitch like this one to somewhat bring more customers for them.

But we all know that 6 digits is doable, it's just a matter of time, it could be this 2022 or the next coming years. If we remains bullish this year then maybe we have a good chance to hit $100k or even more.

Husires

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Expectations are always based on market data and not on a single variable, such as if it continues to exceed the share of gold in the market, something that cannot be accurately calculated or estimated.

If Bitcoin fails to maintain $20k, there is a problem.
If Bitcoin not breaking $100k that does not mean anything.

Bitcoin has grown over the past years, and therefore the failure to achieve $100k in 2022 does not mean that it has failed, and the failure can be measured relatively by moving away from $20k in 2022 to XXXX, which is the bottom over the past year.

mk4

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If anyone's still listening to "price forecasts" especially with an asset like bitcoin in 2022, then I don't even know what to say; especially "forecasts" from a company like Goldman Sachs lol. If there's something I've learned with bitcoin throughout the years, bitcoin tends to heavily surprise people regardless if it's in the upside or downside.

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They're a good influencer to be honest but the fact that even year 2021 there's already a bunch of analyst saying that 100k is possible to happen on bitcoin. For me in my personal opinion maybe they're following as well which is trusted and much accurate when it comes making prediction. Because you know they're just a big investors but don't know how the market really works.so for sure they have good personnel when it comes the market thats why its easy for them to say that kind of words. Perhaps its the right decision to follow them as well.

bittraffic

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It's forecast like these that make people lose money because it's the opposite that's happening. But when there is bad news in the industry, it's where the prices go up too. Ever notice this too? It creates confusion instead as if it's thier goal to confuse naive investors after seeing thier money didn't shoot to the moon.

Experience will always tell me to just invest when the trend is right on and currently happening but when there is a confusing market where no one has yet had learned whether we are going to bear or bull, it's best to just leave Goldman sucks prediction alone.

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It's based only on estimations, and an important point you didn't mention is, he added IF there is no growth in overall demand for stores of value, which is not likely to happen when we see the condition of the markets at the moment. There are many more people who are going to look for safe-havens.

The financial system is not immune to a markets crisis and the countries know this. That's why they continue to buy gold in mass, like Russia, Turkey, GB, the US, and so on.

If Bitcoin's price goes up in 2022 it will be caused by the adoption from people and institutions not because people want to use it as a store of value. Because Goldman Sachs says something doesn't mean they are right. Speculations like this, we see them every week. None of them come back to admit they were wrong and when they're right you can see them bragging on Twitter lol

As for the point saying the cryptocurrency accounts for 20% of the total store of value market, I would like to see how they do the maths...

BitXplosion

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If Bitcoin's gains in 2021 weren't enough, just wait until 2022.

Goldman Sachs predicts that Bitcoin could reach $100k in 2022 if it continues to overtake gold’s market share. If you haven't invested in Bitcoin already, it could be the best time to get on board with Goldman Sachs' forecast.

"Bitcoin has all the makings of being a disruptive, digital currency that could one day replace gold as the world’s most popular store of value.

The global investment banking giant, Goldman Sachs (NYSE:GS), released its price forecast for Bitcoin in 2022, stating the possibility of $100k. Despite its 60% gains in 2021, Bitcoin did not meet many expectations as it failed to break above $100k.

Goldman Sachs predicted that Bitcoin could reach $100k in 2022 if it continues to overtake gold’s market share.

Approximately 2 percent of gold’s market cap ($700 billion) is held by the public. Goldman estimates that the public holds about $2.6 trillion in gold as an investment."

Read the full announcement at https://bitexplosion.io/bitcoin-price-forecast-by-goldman-sachs-100000-in-2022-will-the-cryptocurrency-break-out-of-the-bubble/

Topic: Bitcoin Price Forecast by Goldman Sachs (Read 313 times)